The Strait of Hormuz remains closed as Iran continues to restrict access and block energy flows to global markets, according to Sultan Al Jaber, CEO of Abu Dhabi National Oil Company, the largest oil producer in the United Arab Emirates.
Al-Jaber said on LinkedIn that Tehran’s demand for supervised transit is unacceptable. “Conditional passage is not passage,” he said. “It is control by another name.” He added: “The strait must be completely open, unconditionally and without restrictions.”
Al-Jaber said that about 230 ships loaded with oil are ready to sail. He added that ADNOC has loaded shipments and plans to expand production in light of the restrictions imposed on its infrastructure during the war.
The waterway has been largely closed since the start of the war with Iran at the end of February. Al-Jaber previously described Iran’s closure of the Strait as economic terrorism.
The Iranian Ports and Maritime Organization on Thursday announced two designated safe routes for ships entering and exiting Hormuz, the state-run Noor News Agency reported. The roads were constructed to avoid the possibility of sea mines in the area.
The United Arab Emirates and other Gulf producers have halted production of oil, gas and refined products due to the blockage of the Strait of Hormuz. Oil prices rose above $100 a barrel and remained near that level after the initial ceasefire that was supposed to include opening the strait.
Source: Investing.com
